Finance Act 2021

CAA 2001

16 (1) Section 99 (long-life assets: the monetary limit) is amended as follows.

(2) In subsection (4)—

(a) for “In the case of a company (“C”), if, in a chargeable period, one or more companies are related 51% group companies of C” substitute “If, in a chargeable period, a company has one or more associated companies”, and

(b) in the definition of “N”, for “number of related 51% group” substitute “number of associated”.

(3) After that subsection insert—

“(4A) The rules in Part 3A of CTA 2010 (see sections 18E to 18J) which apply for determining whether a company is another company’s associated company in an accounting period for the purposes of section 18D of that Act apply for the purposes of subsection (4).”